Get This: The biggest money mistakes newcomers to Canada make

What does it actually cost to uproot your life and move to Canada, and what money mistakes do almost every newcomer make along the way? In the “New to Canada” edition of Get This, a Neo Financial podcast, we break down how much it costs to move to a new country, the cost of living in Canada, and the financial surprises nobody warns you about when rebuilding your financial foundation from scratch.

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The cost of relocating your life to Canada (03:22)

International students pay 10% more in monthly rent (and temporary workers pay 21% more) than Canadian-born renters—but finding a place to live is only part of the puzzle. We get honest about international student tuition fees, phone bills, and the difference between handling your immigration application yourself versus working with an agency.

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Get more info:

• What does it actually take to move to Canada?
• Does your credit score follow you to Canada?
• How to open an account as an international student in Canada

The biggest mistakes newcomers to Canada make (13:12)

We’re all afraid of missteps, but this is especially true for immigrants: 38% of newcomers to Canada have little to no understanding of how banking works in Canada, and 76% are afraid of making financial mistakes. From choosing the wrong financial institution and overpaying in fees to having no understanding of how credit works, we recount the biggest money mistakes we made after the big move.

Get more info:

• How to build your credit from scratch as a Canadian immigrant
• Fees Canadians are unknowingly paying
• Car loans for newcomers in Canada: Here’s what you need to know
• How to budget in Canada

Finding success as a Canadian immigrant (20:00)

LinkedIn top voice Ritika Saraswat is rewriting the immigrant playbook. Here, she shares how she broke out of survival mode as an international student in Canada and built Re-Defined, a community for fellow newcomers. We talk about emergency funds, the importance of investing in your skills, and why unlearning bad advice matters. 

Get more info:

• How to tell if you're living within your means in Canada

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